Lake Roosevelt home sites sell for $1.76 million

WILBUR, WA – Sixty-three home sites in the Roosevelt Views subdivision overlooking Lake Roosevelt sold for $1.76 million Saturday to National Recreational Properties, an Irvine, Calif.-based real estate investment company acting through its Ocean Shores office.

The sites had been scheduled for auction later in the day, but National Recreational Properties made an advance offer that developer Gary Brown was willing to accept, according to Craig King, president of J.P. King Auction Company, Gadsden, Ala., which managed the sale.

“This ensured a complete sellout of the sites for sale, which of course was positive for the seller. And it let the buyer get the entire property, which is what they wanted, so it worked out well for everybody,” said King.

“We had a case where one buyer wanted the entire subdivision, and since we were going to conduct the auction in parcels, that was the simplest way for them. This kind of pre-auction sale occurs about 10 percent of the time,” said King.

Brown said he was “delighted” with the sale. “I’m happy as I can be,” he said.

National Recreational Properties officials indicated that they planned to either build out the subdivision or re-market the home sites, said King.

“As I understand it, they plan to study their options before making a final decision, but I think this is good news for Lake Roosevelt and the Wilbur area. The buyers take a lot of pride in their record for spurring growth,” said King.

Brown, a Snohomish resident who has been boating on Lake Roosevelt since the mid-1980s, decided to build the subdivision after spotting the land from his boat four years ago.

Since then, Brown has been busy turning the land into a subdivision, with underground utilities, streets, water rights and protective covenants.


Recent Headlines

J.P. King Auction Company Continues Florida Success with Steinhatchee Resort Auction
Scott King awarded ATS designation from National Auctioneers Association
All Sold! J.P. King Auction Company Sells TVA Kingston Waterfront Properties
J.P. King Auction Company Sells Heath Shuler’s Mountain Estate for $1.54 Million
Magdalena Palace model Devault Manor to Auction J.P. King Auction Company to Auction Unique Johnson City, TN Estate
Health Shuler’s Mountain Estate to Auction
TVA Retains J.P. King Auction Company to Sell Kingston Waterfront Properties
J. P. King sells another luxury waterfront home and continues its total sellout in the Carolinas in recent months.
J.P. King Auction Company Auctions Scenic Calabria Ranch Estate Homes for $3.11 Million
J.P. King Auction Company Takes Calabria Ranch Estate Homes to Auction
J.P. King Auction Company Announces Historic Tapoco Lodge and Two Waterfront North Carolina Properties Auction for more than $4 Million
J.P. King Auction Company to Auction Historic Tapoco Lodge in North Carolina
Mountain Masterpiece Estate Auctions for $1.072 Million
J. P. King Auction Company Sells Peters Township Home for $3.44 Million
Prime Location 390 Acre Development Land with Montgomery Motorsports Park to Sell at Absolute Auction


Copyright © 2016 J. P. King Auction Company, Inc
Auction Information Center 800.558.5464 • Corporate Office 800.662.5464 • Fax 256.543.8036
Privacy Policy